Motilal Oswal: Covid-19 Led Aberration Hurts Strides Pharma’s Q2 Performance
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Motilal Oswal Report
Strides Pharma Science Ltd.’s Q2 FY21 performance came in below estimates due to Covid-19-related disruptions at its manufacturing facilities and softness in demand in the UK, select European countries.
However, the outlook remains positive, with normalcy back in manufacturing operations.
The company’s revenues were up 11% at Rs 7.9 billion (our estimate Rs 8.3 billion).
Emerging market sales were up 57% YoY to Rs 1.5 billion (19% of sales), U.S. sales were up 7% YoY at Rs 4 billion (51% of sales), and other regulated markets sales were up 7% YoY at Rs 2.4 billion (30% of sales).
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